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2xREO

We knew there would be double REOs – houses that get foreclosed back-to-back.

2612 La Gran Via, Carlsbad

4 br/3 ba, 3,834sf 

$1,100,000  12/05 refi mortgages

$961,006 11/06 Trustee sale O-bid, REO

$876,000  5/07 SP

$733,146  8/09 Trustee sale O-bid, REO

$778,000  8/09 LP

It’s been featured here before, a typical Old La Costa custom with funky floor plan and a smaller back yard.  This former owner was a restauranteur, so we can probably chalk this foreclosure up to the economic downturn?

Interesting to note that the IndyMac current list price is higher than the opening bid at the trustee sale.  We’re going to watch this trend, and remember those lenders who list lower – no reason to buy at the trustee sale if you can get it lower, later.

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